Cake Group CEO proposes selling shares to former Chief Technology Officer

On February 28, according to Tech in Asia, Chua U-Zyn, co-founder and chief technology officer of the cryptocurrency company Cake Group that applied for liquidation in November 2023 at the Singapore High Court, is now considering a complete acquisition of the company. Based on a possible transaction announced at a court hearing in Singapore, Chua will acquire the equity of Julian Hosp, co-founder and CEO of Cake Group. The judge overseeing the liquidation application has adjourned the case for five weeks to allow Chua to consider this proposal.